Review today's Washington Business Journal coverage here on the Broadcast Center One's green light by DC Council.
(by Jonanthan O'Connell, Staff Reporter -Wednesday, January 9, 2008 - 8:30 AM EST)
Showing posts with label Broadcast Center One. Show all posts
Showing posts with label Broadcast Center One. Show all posts
Wednesday, January 9, 2008
Broadcast Center One: DC Council Approves Financing/Land Deal
Shaw is finally getting its Broadcast Center One. On January 8, 2008, the DC Council gave the final reading and voted to approve the financing/land package providing for the Broadcast Center One. Following Council approval of the "Disposition and Redevelopment of Lot 854 in Square 441 Approval Act of 2007", the bill was set to be approved as emergency legislation.
Councilman Jim Graham got his way on this one. During the November 2007 Council hearing on the the bill financing package, a committee sent it back the drawing board to find a way better than the "free land giveaway" financing option, and it then appeared that the development was as good as dead. However, Mr. Graham closed the hearing commenting that if there was ever a good reason to dispose of DC land, bringing back the preeminent African-American owned radio broadcasting company to the District is it.
This development will be a catalyst for changes to this 7th and S Street, NW, area that has not seen good times since many years before the riots of 1968. Square 394 and the Shaw Neighborhood will benefit from the increased foot traffic and commercial space forthcoming upon completion of this very welcome development.
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Publication Location
[where: 20001]
[where: Washington, DC 20001]
Councilman Jim Graham got his way on this one. During the November 2007 Council hearing on the the bill financing package, a committee sent it back the drawing board to find a way better than the "free land giveaway" financing option, and it then appeared that the development was as good as dead. However, Mr. Graham closed the hearing commenting that if there was ever a good reason to dispose of DC land, bringing back the preeminent African-American owned radio broadcasting company to the District is it.
This development will be a catalyst for changes to this 7th and S Street, NW, area that has not seen good times since many years before the riots of 1968. Square 394 and the Shaw Neighborhood will benefit from the increased foot traffic and commercial space forthcoming upon completion of this very welcome development.
---------------------------------------
Publication Location
[where: 20001]
[where: Washington, DC 20001]
Thursday, October 18, 2007
Broadcast Center One to Break Ground in February 2008
As reported on October 18 by DCMud (a DC real estate gossip blog), this project is finally moving forward and will transform our Square-394 neighborhood a-top of the Shaw/Howard University Metro Station, at the intersection of 7th and S Streets, NW.
This project will provide for the following real property improvements within Square 441:
- Mixed-use development - 319,917 sq/ft, above grade in $120 million total development investment
- 250 space below-grade parking garage
- 103,083 sq/ft. commercial space - Radio One returns to city
- 24,323 sq/ ft of local retail/arts space -10% will be affordable retail space
- 202 residential units - 25% will be affordable and workforce housing, in 192,511 sq/ft
Review the developer's May-2006 comments on and creative visioning regarding the thriving future of our neighborhood as a broadcasting- and artist-studio haven (from the Washington Post, by Dana Hedgpeth, Monday, May 26, 2006; D03: Developer Has the Past in Mind for Shaw).
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